Stafford student loans

[Nut]

Can somebody possibly explain to me about the Federal Stafford Loans?

I checked on the net and tonight I am befuddled about how they work

 

[Oak]

Stafford loans are federal student loans. I think that it is available throught the FASFA application along with all the other federal student aid programs.

There are two kinds of Stafford loans, subsidized and unsubsidized. For subsidized loans, the interest is deferred until the student stops attending college at least half time. Payments on both types of loans are deferred until six months after the student stops attending school.

If a student is interested in a Stafford Loan, I think they essentially check a box on the FASFA application and they will get some kind of notice down the road about what they qualify for. I think these loans are paid directly to the school where the student is enrolled, if I remember correctly. The student never sees the money.

This information is worth what you paid for it.

 

[----]

I'm collecting Stafford loans currently and I think Oak covered most everything. My loans are for more than the price of tuition so after my classes are finalized each semester and the University gets the loan money, they cut me a check for the difference.

 

[guppie9]

Why bother....maybe you can just have in-vitro fertilization. If a chick having 8 kids is a big deal, just think about what a dude could rake in!!

 

[DRAFTSTUD]

Gup, That won't work with Nut........he's gone through menopause!!!!!!!!!!!!!!!!!! John

 

[Nut]

Codie got a letter from one college where they broke down what grants he can have(in place if he attends there) and it involves about 3k in subsidized nad 1500 in unsubsidized loans. If he gets that all we would have to come up with is about 1300 towards a 28k year.(includes room and board).


I am still going through a couple of hoops before I apply I think.

Gup, That won't work with Nut........he's gone through menopause!!!!!!!!!!!!!!!!!! John

Yep

 

[DRAFTSTUD]

Nut, We all look forward to our kids going to College, but do you feel like I did last year when Travo enrolled. All of a sudden people were talking in a different language? Go up to the school and talk to the Guidence Counceller and take notes. BTW, Take your wife so you can argue over what the person said! John

 

[oleefish2]

I work with high school students here in Wyoming and the major issue will come down to GPA and ACT scores.... After that then it is choices of degree plan and school. If the student has good GPA and ACT score they can get the schools to make offers on the aid packages. The key is to start the communication with colleges as juniors or September of their senior year. The other major issues for scholarship committees are student’s activities IE:
1. School:
Sports, clubs, drama, speech/debate and honors society

2. Leader-ship:
Student government, offices held, team captain and class involvement
3.None school :
Volunteer, programs, church, and the things they have done that show commitment to more than themselves.
Keeping a notebook that keeps records of the things your child does through-out school can make the difference on getting the largest financial package possible. The thing to remember is the individuals that review your information are looking for caricature to go with ability. Your child maybe one of who knows how many students with good GPA and ACT score, so any way they can be different in a positive way will make a difference.
Good Luck Mom and dad.

 

[Bambistew]

$28k a year!!! Holy crap. I've only been out for 8 years, but I didn't spend half that much for my entire degree including room and board... Course I had to tough it out going to an Engineering school in Butte Montana and living in a hole I found dug in the woods near Anaconda.

 

[Nut]

It really is tough trying to understand everything in order to get it right. We are making sure all the t's are crossed and the i's are dotted.


If he ends up at this college he will do pre-med pretty much. He also got a phone call from the football coach there.

 

[JohnSWA]

$1300 out of your pocket per year instead of $28K with room and board included sounds like a smoking deal to me! I'd jump at the chance, but that would just be my situation. You would be wise to look at the offer closely and with a fine toothed combe.

Best of luck to you and and most importanly, you son!

 

[1_pointer]

If he ends up at this college he will do pre-med pretty much.

Quite a few of the small, private schools in the mid-west have great pre-med programs and some have some pretty good (for Div. III) football teams. The school I went to played a couple of the schools in OH...